The rising price of gold has increased the value of the Bank of Portugal’s reserves, now exceeding 46 billion euros, a 47% appreciation since the beginning of the year.
The Monetary Policy Implementation Report of last year stated that the gold held by the Bank of Portugal (BdP) was valued at 31 billion euros at the end of 2024, marking a 34% increase over 2023.
The bank held 382.7 tons of gold, an amount that remains unchanged, further appreciating the reserves this year.
Gold, considered a safe-haven asset for investors during uncertain times, reached a new historical high today, slightly surpassing 4,000 dollars per ounce.
Using this value as a reference, the central bank’s reserves are now valued at approximately 46.3 billion euros, according to calculations, representing a 49% increase since the start of the year.
Massive purchases by central banks, a weak dollar, and geopolitical context are driving gold’s rise, which has appreciated nearly 50% this year.
